1977 Ordinances - Laserfiche WebLink

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(a) If the memb~_r at date of death has more than one year of creditable service, there shall be paid in a lump sum, in addition %0 any other benefit provided for in this Article, an additional benefit equal to Five Thousand Dollars ($5000.00) in accordance with Section 31- 160. 0~) If the member at the date of death had more t~n five (5) years of creditable service there shall be paid a retirement allowance to the first of the following listed persons, if any, who is alive at the death of the msmber; and in the priority listed herein: widow or widower and pension payable during widowhood; child or children under the age of eighteen (18) years and pension payable to age eighteen (18); dependent mother or father; dependent sister or brother. If there is more than one child, or more than one dependent parent, or more than one dependent sister or brother, the pension shall be divided in a manner as the board may determine. Parents, brothers or sisters must receive more than fifty percent (50%) support frcxa the member to be considered dependent. Such retirement allowance shall be payable to th~ first eligible person as stipulated and be an allowance, payable at least monthly, e~sl %0 tile larger of One Thousand Two Hundred Dollars ($1,200.C0) a year, or, an allowance equal %0 half of the retire~ent allowance that would have been payable to the member had the member retired under the provisions of Section 31-151 on the date of his death after having elected to have his allowance payable under the joint and last survivor option described in subsection (a) (1) of Section 31-159. If the msmber is %tnder age fifty-five (55) at the date of death it shall be assumed for the pur- poses of the one-half joint and last survivor option calculation that the msmber be age fifty-five (55) as of the date of his death. Such allowance shall be in addition to any benefits provided in subsection (a) above. Section 31-159. Optional benefits. (a) Each member who retires under any of the provisions of this article shall have the right at any time, not subsequent to the later of t3~ effective date of the member's retirement or the date of the written notification to the board of the retirement Of the member, to elect to have this retirement allowance payable under any one of the options set forth in this section in lieu of the retiree,_ut allowance that would otherwise be payable %0 him. The amount of any such optional reb~rement allowance shall be the actuarial equivalent of the amount of the retirement allowance that would otherwise be payable to him. The msmber shall make any such election by written request to the board and such election by written request to the board and such election shall be subject to the approval of the board. 3